Indus Motor Declares Rs 12.8 Bn Profit After Tax For 2020-21

Indus Motor posts net sales revenue of Rs 179.2 billion showing 108% increase compared to Rs 86.2 billion last year, while profit after tax increased by 151% to Rs 12.8 billion from Rs 5.1 billion posted last year

KARACHI, (UrduPoint / Pakistan Point News - 27th Aug, 2021 ) :Indus Motor posts net sales revenue of Rs 179.2 billion showing 108% increase compared to Rs 86.2 billion last year, while profit after tax increased by 151% to Rs 12.8 billion from Rs 5.1 billion posted last year.

Board of Directors of Indus Motor Company Limited met on Aug. 26, 2021 to review the company's financial and operating performance for the year ending on June 30, 2021, said release on Friday.

Profit before tax increased by 150 percent from Rs 7.3 billion last year to Rs 18.2 billion as at the fiscal year end. During the year, sales volume of CKD and CBU vehicles increased by 100%, to 57,731 units as against 28,837 units sold last year.

Consequential to increased demand, the Company produced 59,187 units for the year, as compared to 28,519 units produced in the same period last year.

The increase in turnover and profitability for the year was mainly due to higher CKD and CBU volumes, primarily due to improved economic conditions and healthy demand generated on account of launch of the facelift models of Corolla, Hilux and Fortuner along with wider acceptance of Toyota Yaris, the best-selling sedan for the year.

The profitability also increased on account of increase in other income mainly due to return on placements on account of improved fund position of the Company.